SuperBike Factory had 1,852 bikes listed for sale the morning it ceased trading.
Self-styled as Europe’s largest used motorcycle dealer, it gave notification of its intention to appoint administrators on 17 July, following attempts to sell the business. Michael Lennon, James Saunders and Robert Halliday of KR8 Advisory were appointed. By 20 July the company had ceased trading.
Superbike Factory Closure
Founded in 2010 by Scott Behrens and James Watson, the mega dealer had grown to six sites with around 15,000 used-bike sales a year. Superbike Factory was acquired by private equity firm Livingbridge EP, with a later acquisition by Endless LLP’s fund Enact in December 2023. That feels like a significant part of this story.
Superbike Factory’s last published accounts (year ending 31 December 2024) showed revenue of ~£82.2 million, which somehow translated to a £18 million loss after tax. Most of that loss was made up of a ~£14.5 million investment impairment, a portentous accounting downgrade of the net value of its subsidiaries – an indication of what was to come.
In fact, in the same accounts, the company cited risk and uncertainty around the “continued availability of finance providers” following the discretionary commission arrangements ruling. The cost of living and inflation were also referenced as factors impacting the business.
I suppose after such a High Court ruling and the confluence of those additional factors (surmountable or not), a private equity firm’s interest in such a business might not be as high. Times may be tough; yet, this Goliath of a dealer, superficially, appeared better equipped to survive than most. It’s curious why it didn’t.
As is always the case, beyond the demise of a corporate entity are human beings, people beyond the board of directors whose livelihoods are jeopardised. Many stories about the internal workings of the company have emerged over the last few weeks, with former employees posting their thoughts on the collapse. Many accounts suggest that staff knew there were issues; however, they did not anticipate a total collapse, according to at least one insider.
We can only wish the very best to the 273 employees who have already lost their jobs and the customers awaiting the fate of their deposits. I’m sure most riders feel the same, whatever their thoughts on the actual business.
I never stepped inside a SuperBike Factory site, but I can imagine the spectacle all of that rideable iron under one roof would have been magnificent. Maybe something as grand will rise in its place. Let’s hope whatever emerges has a solid business model that values motorcycling alongside its staff and customers.
Customer enquiries should go to [email protected].
